Wed, 06 Sep 2023 | BUSINESS SALE
Wealth management consolidator Perspective Financial Group has continued its rapid acquisitive growth with three new deals. The Chorley-based firm has acquired Hexham-headquartered AYP Financial Planning, Buckinghamshire firm Prosperity (GB) Ltd and an undisclosed company based in the North East of England.
The three deals mean that Perspective has now completed 15 acquisitions so far in 2023 and 71 since it was established 16 years ago, with the company having been one of the most active consolidators in the wave of dealmaking that has swept the UK’s wealth management sector.
The firm’s acquisitive activity means it now has 33 offices across the UK, a 450-strong workforce and 120 financial planners. In addition to the three most recent acquisitions, the company says it has also exchanged contracts on a further seven deals, which are set to complete over the coming months.
Perspective Chief Executive Ian Wilkinson commented: "We are delighted that these three firms have chosen to become part of us. These acquisitions add a further 1,000 households as clients, £250 million in AUM and two new local offices”.
Wilkinson continued: "Our pipeline remains extremely strong and continues to grow month on month. We are meeting both large and small firms and we plan to continue to grow at scale and pace with our highly selective acquisition strategy."
Prosperity (GB) Ltd was founded in 2004 and is being sold due to director John Burchett choosing to retire. Burchett said that he would remain with the business for a short period to assist in the handover, with his fellow director Adam Jerreat to remain at the company post-sale.
AYP Financial Planning Ltd (AYP) was founded nearly 20 years ago by director Kim Alexandra as an independent financial planning provider for women. Since then, the company has evolved beyond specialising in advice for women.
Kim Alexandra commented: "This move will provide long term security to the provision of financial advice for our clients, career security and indeed greater opportunity for our people, and the ability to grow our office in Hexham.”
Find out more about the latest trends in the wealth management M&A market:
Wealth management M&A boom continues amid changing dealmaking environment
Financial advice M&A: Valuations for larger firms rise as market shifts
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